- SAND price analysis appears to be bearish.
- The strongest resistance is present at $6.7.
- The strongest support is present at $5.6.
SAND price analysis for December 29, 2021, reveals that the cryptocurrency is following a head and shoulder movement. The price has suffered a great decline in the past few days. The price shied away from $7 and suddenly started to decline; on December 27, 2021, the cost of SAND/USD went from $6.7 to $6.4; the next day, the price kept dropping and went to $5.7. The price fluctuated between $5.7 and $6.4 until the next day when it finally reached $5.9, which is the current price for SAND.
SAND/USD 4-hour price analysis: The Sandbox stuck in strong bearish momentum
SAND price analysis reveals the market’s volatility to be following a somewhat inclining trend, meaning that the SAND/USD price is becoming more prone to experiencing variable change. The upper limit of the Bollinger’s band is present at $6.9, serving as the strongest resistance. The lower limit of the Bollinger’s band is current at $5.6, representing the strongest support.
The SAND/USD price appears to be crossing under the Moving Average curve, signifying a bearish movement. The price can be following an upwards path and may cross over the curve of the Moving Average soon, showing the possibility of a reverse trend.
The Relative Strength Index (RSI) is 34 signifying a stable value for the cryptocurrency. The RSI can be seen following a slight declining path which may indicate a reverse trend sometime in the future.
SAND price analysis for 1-day: SAND/USD escape the squeeze
SAND price analysis shows the market’s volatility following an inclining path, which signifies the increase in the probability of the SAND/USD price undergoing variable change. The cryptocurrency has just come out of a squeeze in the market, which resulted in a significant increment in the market’s volatility. The upper limit of the Bollinger’s band is present at $6.7, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $4.1, which represents the strongest support.
The SAND/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish movement. The market trend has just shifted from a bullish sign showing that the bears have recently taken control of the market.
The Relative Strength Index (RSI) is 54, indicating a rather stable value for the cryptocurrency. The RSI path can be seen moving steadily in a straight line symbolizing maximum stability for the SAND/USD price.
SAND Price Analysis Conclusion: Bears snatch the market
Careful observations from the SAND price analysis have deduced that the bears have taken complete market control. The price was expected to reach $7 before Christmas; now, the cryptocurrency struggles for $6. However, the market’s momentum changed and now indicates that there is a chance that the bears will maintain the market trend for the time being. The bulls can make a comeback, but that’s the less likely scenario.
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